The Price of Anarchy (PoA) is a concept in game theory and mechanism design that measures how the social welfare of a system degrades due to selfish behavior of its agents. It has been studied extensively in various contexts, particularly in auctions. In an auction, there are one or more items and one or more agents with different valuations for the items. The items have to be divided among the agents. It is desired that the social welfare - the sum of values of all agents - be as high as possible. One approach to maximizing the social welfare is designing a truthful mechanism. In such a mechanism, each agent is incentivized to report his true valuations to the items. Then, the auctioneer can calculate and implement an allocation that maximizes the sum of values. An example to such a mechanism is the VCG auction. In practice, however, it is not always feasible to use truthful mechanisms. The VCG mechanism, for example, might be too complicated for the participants to understand, might take too long for the auctioneer to compute, and might have other disadvantages. In practice, non-truthful mechanisms are often used, and it is interesting to calculate how much social welfare is lost by this non-truthfulness. It is often assumed that, in a non-truthful auction, the participants play an equilibrium strategy, such as a Nash equilibrium. The price-of-anarchy of the auction is defined as the ratio between the optimal social welfare and the social welfare in the worst equilibrium: A related notion is the Price of Stability (PoS) which measures the ratio between the optimal social welfare and the social welfare in the best equilibrium: Obviously . When there is complete information (each agent knows the valuations of all other agents), the common equilibrium type is Nash equilibrium - either pure or mixed. When there is incomplete information, the common equilibrium type is Bayes-Nash equilibrium. In the latter case, it is common to speak of the Bayesian price of anarchy, or BPoA. (Wikipedia).
Using the market price for an option on Google's stock, I use Excel's GOAL SEEK function to estimate implied volatility. Implied volatility is a reverse-engineering exercise: we find the volatility that produces a MODEL VALUE = MARKET PRICE. For more financial risk videos, visit our websit
From playlist Volatility
Percentage Change (3 of 4: Combining Increase & Decrease)
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From playlist Fractions, Decimals and Percentages
Find the Difference of an Original and Sale Price (Whole Numbers)
This video explains how to determine the difference of an original price and a sale price. http://mathispower4u.com
From playlist Adding and Subtracting Whole Number
Ex: Find the Sale Tax Percentage
This video explains how to determine the sales tax percent given the amount paid and the sale price. Search Complete Library at http://www.mathispower4u.wordpress.com
From playlist Percent Applications
Elias Koutsoupias: Game Theory 2/2 🎲 CERN
This lecture series will present the main directions of Algorithmic Game Theory, a new field that has emerged in the last two decades at the interface of Game Theory and Computer Science, because of the unprecedented growth in size, complexity, and impact of the Internet and the Web. These
From playlist CERN Academic Lectures
Theoretical Computer Science and Economics - Tim Roughgarden
Lens of Computation on the Sciences - November 22, 2014 Theoretical Computer Science and Economics - Tim Roughgarden, Stanford University Theoretical computer science offers a number of tools to reason about economic problems in novel ways. For example, complexity theory sheds new light
From playlist Lens of Computation on the Sciences
This video provides an example of how to find the equilibrium point given the demand and supply functions. Then producer surplus is found. Site: http://mathispower4u.com
From playlist Business Applications of Integration
Vahab Mirrokni: Coordination Mechanisms and Price of Anarchy via Fenchel Duality
We develop a new framework based on LP and Fenchel duality for bounding the robust price of anarchy for a large class of games. We use our framework to give the first PoA bounds for temporal routing games on graphs and energy minimization games in machine scheduling. Most notably, we prese
From playlist HIM Lectures: Trimester Program "Combinatorial Optimization"
This video provides an example of how to find the equilibrium point given the demand and supply functions. Then consumer surplus is found. Site: http://mathispower4u.com
From playlist Business Applications of Integration
Algorithmic Game Theory: Two Vignettes
(March 11, 2009) Tim Roughgarden talks about algorithmic game theory and illustrates two of the main themes in the field via specific examples: performance guarantees for systems with autonomous users, illustrated by selfish routing in communication networks; and algorithmic mechanism desi
From playlist Engineering
FRM: Order Types (market, limit, stop, stop-limit)
Market order: guaranteed fill, but not price. Limit order: guaranteed "or better" price, but not fill. Stop: After price trigger reached, becomes market. Stop-limit: After price trigger, becomes limit order. For more financial risk management videos visit our website at http://www.bionictu
From playlist Derivatives: Commodity Futures
#52. After 17% Price Reduction a Boat Sold for $27,390. What was the Original Price?
Please Subscribe here, thank you!!! https://goo.gl/JQ8Nys #52. After 17% Price Reduction a Boat Sold for $27,390. What was the Original Price?
From playlist College Algebra Final Exam Review
How Did Russian Oligarchs Get So Rich?
Subscribe to The Daily Upside! (Free Business & Finance Newsletter): https://bit.ly/38LgdGN Russian Oligarchs have become synonymous with superyachts, luxury mansions and the shady political maneuvering of post-Soviet Russia. Since the Russian invasion of Ukraine, Russian billionaires lik
From playlist Long Videos
Elias Koutsoupias: Game Theory 1/2 🎲 CERN
This lecture series will present the main directions of Algorithmic Game Theory, a new field that has emerged in the last two decades at the interface of Game Theory and Computer Science, because of the unprecedented growth in size, complexity, and impact of the Internet and the Web. These
From playlist CERN Academic Lectures
Business Math - Finance Math (22 of 30) Amortization - The Effect of Interest Rates on Prices
Visit http://ilectureonline.com for more math and science lectures! In this video I will explain the effect of interest rate on the price of purchasing a home. Next video in this series can be seen at: http://youtu.be/moEZfOVpEog
From playlist BUSINESS MATH 2 FINANCE MATH
Overview and Recent Results in Combinatorial Auctions - Matt Weinberg
Computer Science/Discrete Mathematics Seminar II Topic: Overview and Recent Results in Combinatorial Auctions Speaker: Matt Weinberg Affiliation: Princeton University Date: February 7, 2023 In this talk, I'll first give a broad overview of the history of combinatorial auctions within TCS
From playlist Mathematics
Madison Ruby 2013 - PUNK by Martin Atkins
I grew up during the punk rock revolution - UK 1976 and beyond - when things REALLY changed for a lot of us.....I was in a prog rock band - so, I chat about the miners strike, the power rationing, punk, london, hair and how things have changed......plus I was in a band with Johnny Rotten s
From playlist Madison Ruby 2013
Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance Let’s look back at the big financial events of
From playlist Top Ten Lists
Algorithmic Game Theory by Siddharth Barman
Program Summer Research Program on Dynamics of Complex Systems ORGANIZERS: Amit Apte, Soumitro Banerjee, Pranay Goel, Partha Guha, Neelima Gupte, Govindan Rangarajan and Somdatta Sinha DATE : 15 May 2019 to 12 July 2019 VENUE : Madhava hall for Summer School & Ramanujan hall f
From playlist Summer Research Program On Dynamics Of Complex Systems 2019
From playlist ECON1101 Micro1 Summer : 2017-18